Agreement In Principle Reached On Bailout

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Negotiators emerged from a meeting this afternoon to say they have an agreement in principle on a financial rescue bill that they are taking to their respective caucuses for consideration. Senate Banking Chairman Christopher Dodd, Sen. Robert Bennett, R-Utah and House Financial Services Chairman Barney Frank and ranking member Spencer Bachus announced the agreement, with Dodd predicting "expeditious" action on it. Congressional leaders will be headed to the White House for a 4 p.m. meeting on the crisis.